Pig fat free of lean meat and poultry fat market in South-eastern Asia

Earlier Report Observations

The market for pig fat in South-eastern Asia contracted from 618 thousand tons in 2018 to 547 thousand tons in 2021, then rebounded to 585 thousand tons in 2022 and stabilized in 2023. This initial decline coincided with a regional consumer shift towards leaner meats and alternative proteins driven by rising health awareness. The market recovery was supported by the expansion of the processed meat sector, where pig fat is a key ingredient, and by strategic investments from major companies in modern production and distribution.

Domestic production followed a similar pattern, falling from 543 thousand tons in 2018 to 472 thousand tons in 2021 before recovering to 493 thousand tons in 2023. Imports fluctuated to balance supply, reaching 98 thousand tons in 2022 to compensate for lower local output.

In 2024, pig fat imports surged to 131 thousand tons, reflecting sustained demand from the processed meat industry and greater convenience in consumption. Major players like WH Group and Smithfield Foods have strengthened their regional footprint through strategic acquisitions and production upgrades.

Production pig fat free of lean meat and poultry fat in South-eastern Asia

In kind, 2017-2020, K t

Top producers of pig fat free of lean meat and poultry fat, 2017-2020

World map of production of pig fat free of lean meat and poultry fat, 2017-2020

Production of pig fat free of lean meat and poultry fat in South-eastern Asia has declined for the third year in a row. In 2020, the region produced 508.0 thousand tonnes, marking a slight year-over-year decrease of 2.4%. Over the period from 2017 to 2020, production fell by 15.8%, which translates to an average annual decline of 5.6%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, K t

Exports pig fat free of lean meat and poultry fat from South-eastern Asia

Exports in kind, t

The export market demonstrated significant volatility during the observed period. The lowest point was recorded in 2018 at 21 tonnes, while exports peaked in 2020 at 254 tonnes, representing a dramatic 695.9% increase compared to the previous year. This fluctuation resulted in a 12.2-fold difference between the peak and trough. The sharpest decline occurred in 2018, with a drop of 69.4%.

Annual dynamics of product's exports from South-eastern Asia in kind, 2017-2020, t

From 2017 to 2020, South-eastern Asia exported pig fat free of lean meat and poultry fat to a diverse range of markets. The top three destinations were Spain (18.1% of exports in volume), Canada (12.4%), and India (8.1%), which together accounted for 38.6% of total exports. The remaining 61.4% was distributed among numerous smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, K $ US

Export values showed irregular patterns, reflecting a volatile market environment. The lowest value was recorded in 2018 at 59 thousand US dollars, while the peak occurred in 2020 with 552 thousand US dollars, indicating a sharp 345.3% increase year-over-year. This created a 9.4-fold gap between the high and low points. The most significant decline was in 2018, falling by 62.5%.

Annual dynamics of product's exports from South-eastern Asia in value, 2017-2020, K $ US

During the 2017–2020 period, key buyers of pig fat free of lean meat and poultry fat from South-eastern Asia included Hong Kong (17.0% of export value), Sweden (15.2%), and India (9.4%). However, their combined share reached only 41.7% of total export value, with the remaining 58.3% spread across many other trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports pig fat free of lean meat and poultry fat to South-eastern Asia

Imports in kind, t

After two years of growth, imports of pig fat free of lean meat and poultry fat into South-eastern Asia declined. The highest volume was recorded in 2019 at 77 988 tonnes, followed by a drop to 63 109 tonnes in 2020, representing a 19.1% decrease from the previous year. The largest increase occurred in 2018, rising by 19.6%.

Annual dynamics of product's imports to South-eastern Asia in kind, 2017-2020, t

Between 2017 and 2020, the primary sources for imports in volume terms were Spain (30.2% of imports), Germany (18.8%), and France (12.8%). Together, these three countries accounted for 61.8% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, K $ US

Following a two-year upward trend, import values for pig fat free of lean meat and poultry fat into South-eastern Asia decreased. The peak was in 2019 at 83 043 thousand US dollars, dropping to 74 588 thousand US dollars in 2020, a 10.2% decline from the previous year. Over the entire 2017–2020 period, imports grew by 29.2%, equivalent to an annualized rate of 8.9%. The most substantial increase was in 2018, rising by 22.5%.

Annual dynamics of product's imports to South-eastern Asia in value, 2017-2020, K $ US

From 2017 to 2020, the main markets for imports in value terms were Spain (29.7% of import value), Germany (18.1%), and France (14.5%). This group collectively represented 62.3% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South-eastern Asia in value, 2017-2020